NO Sales, NO Money....
KNOW Sales, KNOW Money.....
-Christopher M. Knights.
In this highly innovative world, with Internet and World-Wide Web allowing accessibility to remote and heterogeneous databases, ONLINE MARKETING, has become an indivisible part of human activity. Often it is said, any kind of publicity is a good publicity, unless it’s an obituary notice, in a local newspaper, same applies for Online or Internet marketing. Internet marketing is a perfect blend of creative and technical aspects of the Internet comprising the design, development, advertising and sales aspects of the Marketing field. Internet marketing follows the KISS mantra (Keep It Short and Sweet).
It is a window of opportunity for customer with respect to wider choice of products, services and prices from different suppliers with a choice to select the best available product. While on the other hand, companies can acknowledge their different products, services and expand their market over a broader base. Internet marketing can be broadly classified into two processes viz. Operating processes and Management processes.
Operating process includes ACQUISITION of customers through search engine optimisation, Pay-per-click search, Partnerships, Online ads/sponsorships, E-mail marketing,Online PR, Offline campaigns etc. Once the potential customers are distinguished marketing communications are used to maximize the conversion of potential customers into actual customers through the process of CONVERSION / PROPOSITION development. This is usually done by measuring the site usability and accessibility along with merchandising, content creation and management. In order to convert the actual visitors into leads, customers and repeat customers RETENTION and GROWTH process is opted. This process takes place through outbound communication between the customer and the company along with E-mail marketing, customer management etc. Success of Operating process depends on judicious analysis and monitoring of web and customer behaviour with a feasible technical infrastructure.
Management process includes STRATEGIZING and PLANNING according to the customer needs followed by MANAGING RELATIONSHIPS. Strategizing and planning can be achieved by creating vision through technological innovation for a consumer .Performing market analysis and competitor benchmarking of the desired product followed by financial analysis and modelling of the same. Defining the multichannel customer experience and managing the customer information. Monitoring annual budget along with campaign planning. Managing relationships include interfacing with senior management, marketing and corporate communications. Managing external relations with vendor selection, monitoring staff development, education and retention. Inculcating changes and improvising the marketing strategy.
This blog simply provides an overview of internet marketing, in the further blogs minute details of internet marketing will be covered. Please keep checking this space.
